Northern America: Smoked Herring Market 2024

Smoked Herring Market Size in Northern America

In 2022, the North American smoked herring market increased by 1% to $X, rising for the second consecutive year after eight years of decline. Over the period under review, consumption, however, recorded a abrupt decrease. The pace of growth appeared the most rapid in 2021 with an increase of 9.2% against the previous year. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Smoked Herring Production in Northern America

In value terms, smoked herring production fell modestly to $X in 2022 estimated in export price. In general, production, however, recorded a deep reduction. The most prominent rate of growth was recorded in 2021 with an increase of 11% against the previous year. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Smoked Herring Exports

Exports in Northern America

In 2022, exports of smoked herrings in Northern America contracted to X tons, reducing by -7% compared with 2021 figures. In general, exports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 with an increase of 30%. As a result, the exports reached the peak of X tons. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, smoked herring exports expanded to $X in 2022. Total exports indicated a perceptible expansion from 2012 to 2022: its value increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +65.3% against 2014 indices. The most prominent rate of growth was recorded in 2018 with an increase of 21%. The level of export peaked in 2022 and is likely to see gradual growth in the immediate term.

Exports by Country

The shipments of the one major exporters of smoked herrings, namely Canada, represented more than two-thirds of total export.

Canada experienced a relatively flat trend pattern with regard to volume of exports of smoked herrings. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, Canada ($X) also remains the largest smoked herring supplier in Northern America.

From 2012 to 2022, the average annual growth rate of value in Canada totaled +4.1%.

Export Prices by Country

In 2022, the export price in Northern America amounted to $X per ton, surging by 12% against the previous year. Over the last decade, it increased at an average annual rate of +3.4%. The growth pace was the most rapid in 2018 when the export price increased by 17%. Over the period under review, the export prices attained the peak figure in 2022 and is likely to continue growth in years to come.

As there is only one major export destination, the average price level is determined by prices for Canada.

From 2012 to 2022, the rate of growth in terms of prices for Canada amounted to +3.4% per year.

Smoked Herring Imports

Imports in Northern America

After three years of growth, supplies from abroad of smoked herrings decreased by -2.8% to X tons in 2022. Total imports indicated temperate growth from 2012 to 2022: its volume increased at an average annual rate of +4.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +55.1% against 2018 indices. The most prominent rate of growth was recorded in 2020 when imports increased by 31% against the previous year. The volume of import peaked at X tons in 2017; however, from 2018 to 2022, imports stood at a somewhat lower figure.

In value terms, smoked herring imports expanded remarkably to $X in 2022. Total imports indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +6.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +92.8% against 2014 indices. The most prominent rate of growth was recorded in 2020 when imports increased by 23% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are expected to retain growth in the immediate term.

Imports by Country

The United States dominates imports structure, recording X tons, which was approx. 97% of total imports in 2022. Canada (X tons) followed a long way behind the leaders.

The United States was also the fastest-growing in terms of the smoked herrings imports, with a CAGR of +4.1% from 2012 to 2022. At the same time, Canada (+2.9%) displayed positive paces of growth. The shares of the largest importers remained relatively stable throughout the analyzed period.

In value terms, the United States ($X) constitutes the largest market for imported smoked herrings in Northern America, comprising 98% of total imports. The second position in the ranking was taken by Canada ($X), with a 2.3% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value in the United States totaled +6.9%.

Import Prices by Country

The import price in Northern America stood at $X per ton in 2022, increasing by 11% against the previous year. Import price indicated a noticeable increase from 2012 to 2022: its price increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2018 an increase of 86% against the previous year. As a result, import price attained the peak level of $X per ton. From 2019 to 2022, the import prices failed to regain momentum.

Average prices varied noticeably amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while Canada stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+2.7%).

Source: IndexBox Platform

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